Vintage Guitars offer a rare opportunity to combine investing
with genuine pleasure. A vintage instrument is the product of craftmanship, something of beauty that can be enjoyed and displayed,
but can also be played at any time. Owning a vintage instrument is more than investing in a sound appreciating asset.

For collectors, there are two major factors that influence the vintage guitar market. One is that the
"Baby Boomer" generation can now afford to buy the guitars they watched their idols using in the past. The other is
the historical significance of the impact their music had on the 20th century. Like anything of historical significance,
vintage guitars are desirable because of the human desire to own a piece of history.

By definition, there is a finite supply of vintage guitars.
As the supply cannot increase, and demand is not likely to decrease, then like fine wine, or classic art, the value can only
go up. So, even if you collect solely for the pleasure of owning a beautiful instrument with character and history,
you can confidently expect your instrument to hold, and even increase, in value over the years.

Why Gibson Basses?

The appeal of a Gibson can be traced to the 1960's when the guitar greats
(Eric Clapton, Jimmy Page, Jeff Beck, among others) fell in love with the sound of the Les Paul guitar. At the same
time the leading Bass players fell for the deep bass tone and craftmanship only offered by Gibson.

The vintage guitar market
has outperformed traditional markets ever since it has been tracked by an index created by Vintage Guitar magazine in 1991.
"The ‘42 Index’ has demonstrated an average annual return of over 31% since it began 17 years ago,"
said Tommy Byrne, co-founder of ACP and Chief Investment Officer of the Fund. "Historically, when the major markets have collapsed,
this market has plateaued until the traditional markets picked up again."

The Market for Investors

"the vintage guitar market, has demonstrated an
average annual return of over 31% since it began 17 years ago,"

NOTE: The value of any individual guitar can vary according to its condition,
market sentiment, and other factors and can fall as well as rise. Like any other investment in real assets, guitars should
be regarded as a long term investment. Realising the full value of a guitar is dependent upon finding a willing
buyer and it may not be possible to sell a guitar for its true value when you wish to realise cash.